DBRS Finalizes Provisional Rating of AAA on CPPIB Capital Inc.’s USD Series 2 Fixed Rate Notes

DBRS Limited (DBRS) has today finalized the provisional rating of AAA with a Stable trend on the U.S. dollar-denominated Series 2 Fixed Rate Notes (the Series 2 Notes) issued by CPPIB Capital Inc. (CPPIB Capital). The USD 2.0 billion Series 2 Notes have a coupon rate of 2.25% and a maturity date of January 25, 2022. CPPIB Capital is a wholly owned subsidiary and principal funding vehicle of the Canada Pension Plan Investment Board (CPPIB). The Series 2 Notes are unconditionally and irrevocably guaranteed by CPPIB and rank pari passu with all other present and future unsecured and unsubordinated indebtedness of CPPIB Capital.

Notes:
All figures are in Canadian dollars unless otherwise noted.

The related regulatory disclosures pursuant to the National Instrument 25-101 Designated Rating Organizations are hereby incorporated by reference and can be found by clicking on the link to the right under Related Research or by contacting us at info@dbrs.com.

The applicable methodologies are Rating Canadian Public Pension Funds & Related Exclusive Asset Managers and Structured Finance Flow-Through Ratings, which can be found on our website under Methodologies.

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